At the Arabian Travel Market held in Dubai’s World Trade Centre, Sheikh Ahmed bin Saeed Al Maktoum, the President of the Dubai Civil Aviation Authority and CEO of the Emirates Group, made a significant statement regarding the potential IPO of Emirates Airlines. He expressed confidence that if the airline decides to go public, it will be a resounding success.
Speaking on the sidelines of the event, Sheikh Ahmed emphasized that the decision to list the airline is ultimately in the hands of the government. He stated, “It’s the decision of the government, when they tell me – we’ll press the button and go public. If we go public, it will be a big success.” This declaration has sparked interest and speculation within the aviation industry and among investors.
Furthermore, Sheikh Ahmed highlighted the positive indicators of Dubai’s performance, citing the increasing traffic in the country and the rising number of hotel occupancies. He expressed pride in Dubai’s ability to consistently deliver and achieve its targets. “We prove to the world that Dubai can always deliver,” he affirmed, underscoring the city’s reputation for excellence and efficiency.
The potential IPO of Emirates Airlines has drawn comparisons to other airlines in the region, such as Etihad Airways. The CEO of Etihad Airways, Antonoaldo Neves, acknowledged that airlines going public with an IPO listing is not uncommon. Neves pointed out that the airline industry is capital-intensive and that accessing the capital and public markets through an IPO can be beneficial for airlines.
Looking back at the IPO market in 2022, Maurice Gravier, the chief investment officer of Emirates NBD Group, highlighted Dubai’s efforts to enhance market breadth and liquidity. He mentioned initiatives such as a market maker fund and a fund worth Dh1 billion aimed at encouraging technology companies to list on the local bourse. Gravier also revealed plans to list several state-controlled entities, including Dewa, Salik, Tecom, Empower, Dubai Duty Free, Jumeirah Group, and potentially Emirates Airlines.
The potential IPO of Emirates Airlines has generated excitement and speculation within the aviation and investment communities. The decision to go public could have far-reaching implications for the airline industry in the region and beyond. As stakeholders await further developments, all eyes are on Dubai as it continues to make strides in the aviation sector and the broader economy.